Don't look now, but Dash has taken over as the new #2 as it has elevated a decent distance over ZCash. Dash sits just under $46 while ZCash is around $40 and it's relevant to note that ZCash has been on the rise again after a rather significant drop.

Bitcoin hit resistance nearing $1300 but still remains over $1200 currently around $1240 just $100 shy of Gold's spot. Earlier this month bitcoin actually surpassed gold for a brief period of time.

Winklevoss EFT

The looming question is will the Winklevoss EFT gain approval from the SEC (Securities and Exchange Commission). 

So what is an EFT? An EFT is an exchange traded fund where an asset is transferred to a fund which is then split up into shares that can be traded on open an exchange. For most in the industry this doesn't do much nor is it advantageous to invest in the EFT, however, it is important because the EFT will make bitcoin accessible to millions of investors who are looking at bitcoin but would otherwise avoid investing due to the necessity to conduct raw trades on bitcoin exchanges such as Bitstamp or GDAX.

The opens up bitcoin to an entire additional investment class and this is very likely to increase bitcoins value if approved.

The SEC will either reject or approve the EFT this week.

Get on it!

Article by dinbits
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